$ENA /USDT Analysis: Bearish Momentum Signals Further Decline..

$ENA has witnessed a sharp decline, trading at $0.8683, marking a significant -25.04% drop in the last 24 hours. The price is under heavy bearish pressure, breaking through key support levels, with the 24-hour low sitting at $0.8637. This signals increased selling activity and a potential continuation of the downtrend.

Key Levels to Watch:

Support: $0.85 – If this level fails, further downside could lead to $0.80.

Resistance: $0.91 – A recovery above this level might lead to $0.96 or higher.

Trade Setup:

Short Entry: Enter below $0.8630 with targets at $0.85 and $0.80.

Long Entry: Wait for a break above $0.91 with targets at $0.96 and $1.00.

Risk Management:

Stop-loss: $0.88 for short trades; $0.85 for long trades.

Market Insight:

The declining volumes and bearish sentiment indicate further weakness. However, any bounce near $0.85 could provide a temporary recovery opportunity. Traders should exercise caution and ensure proper risk management in this volatile setup.